The Economy Part III

[Money$hit]

Well I think in couple of weeks I am going to buy 10-12 1 kilo bars of silver and some smaller 10oz ingots just in case ever thing goes to shit and the Dollar goes insolvent or we hit a state of hyper inflation.

Despite the rate at which we are increasing our money supply, the dollar is actually doing well on the world scene.

Assuming constant velocity in the Quantity Theory of Money, we should be experiencing high levels of inflation. We are printing tons of money, but not at the levels that other countries are. Worldwide Monetary policy is really out of wack. It will take years to reestablish equilibriums within world Forex markets.

[mrsleeve]

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I understand that and keep myself up on how our money is doing on a world level but it never hurts to have some thing hard an of real value no matter the economy in the safe as an insurance policy . Its a just in case idea that is all, if I keep till I retire I would image it will appreciate in value enough to be decent investment in the 40 years till I retire. So no harm no foul. I have some gold coins a a few 10oz silver ingots that I have had for a very long time so I am just adding to the collection.

[Vedubin01]

Remember when buying metals. There will be a time where you will sell it. Its hard to break up a 100 troy ounce bar vs say a 10 ounce. You get a better break over spot buying larger quantities but when its time to either trade for goods or sell for paper it becomes a problem. Gold is pushing $900 an ounce and expected to crest $1100 this year. Silver will follow because of it. Silver is a bit down compared to what it was going for though the year of 08. The issue right now is demand and places are selling well over spot price.

Junk silver right now is a better buy and is still currency. I have been looking for some deals on metals and have found ebay has had some decent deals going on metals.

Where are you guys that do buy metals currently purchase from?

[mrsleeve]

thanks for the heads up vdub, I have not bought any metal in a long long time still looking to where and how and margins on all of it at the moment. But yeah coins are always a good way to go but I have a bit of extra money and want to put in to something hard and kilos of silver seem like a good investment right now.

[Money$hit]

There are places to buy it online, and they store it for you. You dont actually have to take delivery on it, but get a certificate in the event that you want to redeem it.

[Vedubin01]

There are places to buy it online, and they store it for you. You dont actually have to take delivery on it, but get a certificate in the event that you want to redeem it.

the whole point is to be able to have it because you cant trust anyone. Much less the government.

[mrsleeve]

agreed I want it shipped to my house and in my gun safe or buried in my back yard!!!!!!! Thats the point I am not letting someone store MY PRECIOUS METALS

[Vedubin01]

This is about the best place I have seen on price and that includes free shipping. I have never ordered from them just recommended from another forum I read.

http://bullion.nwtmint.com/All_Silver.php

Also check your local pawn shops or Craigslist you can find some deals there, people are hurting and this might be their "shit hits the fan" time to sell to come up with rent and bills.

Just keep an eye out and be ready to buy... because there are others also looking. Metals are the "IN" thing at the moment!


You can also buy EFT's though Scottrade and such. But you are taxed by the Government at 28% not the normal capital gains tax like other stocks. Bull shit but Welcome to Government 101!

[rwh11385]

^^^^^^^^^^^^^^^^^^

I understand that and keep myself up on how our money is doing on a world level but it never hurts to have some thing hard an of real value no matter the economy in the safe as an insurance policy . Its a just in case idea that is all, if I keep till I retire I would image it will appreciate in value enough to be decent investment in the 40 years till I retire. So no harm no foul. I have some gold coins a a few 10oz silver ingots that I have had for a very long time so I am just adding to the collection.

false. it's bad to be restricted, like when the wizard of oz was written.

[uofom3]

We'll have a rare double bottom - we will see S&P below 750.

We are likely seeing a reverse bubble - strange thing to have happen.

It will snap back - second half of '09 will be better - could see the start of a massive bull market.

Look to the stock market as it is a leading economic indicator - it will improve well before the generalized "economy" starts being rosey again.

[Money$hit]

Coin shops sell bullion too.

[mrsleeve]

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edit:this is for heeter


Ok leave it all in the failing banks an the stock market, OH BOY OBAMA to save the day, and give me all my money back pennies on the dollar for the former value of my money. Fuck that.

This is not a end all put all my eggs in one basket kinda thing just another way to have something else to fall back on in a time of need weather it be in 6 months 6 years or 60 years,

[Money$hit]

Lots of earnings come out this week too, its gonna get pretty nasty.

[rwh11385]

^^^^^^^^^^^^^^^
edit:this is for heeter


Ok leave it all in the failing banks an the stock market, OH BOY OBAMA to save the day, and give me all my money back pennies on the dollar for the former value of my money. Fuck that.

This is not a end all put all my eggs in one basket kinda thing just another way to have something else to fall back on in a time of need weather it be in 6 months 6 years or 60 years,

I've learned not to waste my time arguing with people who have ignorance and fear ingrained into their thinking, so I'll I say is :roll: just make a run on the bank and buy up guns and gold along with baked beans for your fallout shelter. Autonomy of monetary policy is an advantage that ought not to be forsaken out of fear.

[mrsleeve]

Not scared man I just try to be prepared for what ever I can, I am planing my retirement now as well planning on no govt programs being funded by the time i get old enough and not planning on either of my pensions being there as well. I will retire comfortable by 65 and if I have some silver safe big deal its a hard value asset where is the harm.

Where have I ever said anything about fear motivating me????? All though now that you mention it I am scared of the dentist.

This economy is not going in a good direction and this is no where near the bottom. If we see any improvement by this time next year I will be amazed.